Canaccord Genuity Reaffirms “Buy” Rating for Quest Diagnostics (DGX)
Quest Diagnostics (NYSE:DGX)‘s stock had its “buy” rating reaffirmed by stock analysts at Canaccord Genuity in a research report issued to clients and investors on Tuesday. They currently have a $110.00 price target on the medical research company’s stock. Canaccord Genuity’s price target would indicate a potential upside of 8.39% from the stock’s current price.
A number of other equities analysts also recently commented on the company. Evercore ISI began coverage on Quest Diagnostics in a research report on Thursday, January 4th. They set an “in-line” rating and a $103.00 price objective on the stock. Jefferies Group set a $98.00 price objective on Quest Diagnostics and gave the stock a “hold” rating in a research report on Saturday, November 25th. Zacks Investment Research upgraded Quest Diagnostics from a “sell” rating to a “hold” rating in a research report on Monday, November 6th. KeyCorp reiterated a “hold” rating on shares of Quest Diagnostics in a research report on Friday, October 27th. Finally, Wells Fargo & Co reduced their price objective on Quest Diagnostics from $88.00 to $86.00 and set a “market perform” rating on the stock in a research report on Friday, October 20th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $106.45.
Quest Diagnostics (NYSE:DGX) traded up $0.27 during midday trading on Tuesday, hitting $101.49. The stock had a trading volume of 520,500 shares, compared to its average volume of 804,264. The stock has a market capitalization of $13,840.00, a P/E ratio of 21.14, a PEG ratio of 2.00 and a beta of 0.60. Quest Diagnostics has a 1-year low of $90.10 and a 1-year high of $112.96. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.37 and a current ratio of 1.47.
In other Quest Diagnostics news, EVP J. E. Davis sold 63,880 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $98.68, for a total transaction of $6,303,678.40. Following the completion of the sale, the executive vice president now owns 101,423 shares of the company’s stock, valued at $10,008,421.64. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.75% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Oakbrook Investments LLC acquired a new stake in shares of Quest Diagnostics in the fourth quarter valued at $512,000. Fox Run Management L.L.C. grew its stake in shares of Quest Diagnostics by 110.0% in the fourth quarter. Fox Run Management L.L.C. now owns 7,351 shares of the medical research company’s stock valued at $724,000 after buying an additional 3,851 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in shares of Quest Diagnostics by 1.7% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 518,980 shares of the medical research company’s stock valued at $51,115,000 after buying an additional 8,866 shares in the last quarter. Coastline Trust Co grew its stake in shares of Quest Diagnostics by 10.9% in the fourth quarter. Coastline Trust Co now owns 17,440 shares of the medical research company’s stock valued at $1,717,000 after buying an additional 1,715 shares in the last quarter. Finally, National Pension Service grew its stake in shares of Quest Diagnostics by 9.5% in the fourth quarter. National Pension Service now owns 155,469 shares of the medical research company’s stock valued at $15,312,000 after buying an additional 13,460 shares in the last quarter. 88.92% of the stock is owned by institutional investors and hedge funds.
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About Quest Diagnostics
Quest Diagnostics Incorporated is a provider of diagnostic information services. The Company operates through two businesses: Diagnostic Information Services and Diagnostic Solutions. The Diagnostic Information Services business develops and delivers diagnostic testing information and services, providing insights that empower and enable a range of customers, including patients, clinicians, hospitals, integrated delivery networks (IDNs), health plans, employers and accountable care organizations (ACOs).
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